Merry Christmas! We’re all about to get screwed.
We here at Why Not Nashville? like to look at proposed legislation and ask “why?” Too often our leaders propose legislation simply to say they did something and hope their constituents are satisfied, even if said legislation will have virtually no positive impact. For example, the whole thing about banning assault rifles. Why? What’s the benefit? It isn’t going to do anything about the rifles that are already out there, it probably wouldn’t have stopped the Connecticut shooting from happening, and it isn’t going to do anything about the primary weapon used for shootings, the semi-automatic handgun (which we have a Constitutional Right to own). Moreover, gun laws don’t keep guns out of the hands of criminals anyway. In other words, banning assault rifles would have no impact, other than to advance the agenda of the anti-gun left. Not much of a reason if you ask me.
The fiscal cliff debate is another such example, although its assumed outcome will have a far more practical effect than simply lessening our liberties. It should be rather obvious to everyone that Barry wants us to go over the proverbial fiscal cliff. How do we know this? House Speaker John Boehner was actually going to give Barry what he allegedly wanted: a bill that would permanently fix tax rates for the overwhelming majority of Americans, while ultimately allowing the rates on rich people to go up on January 1. The conservatives in the House shot this possibility down last night, but Barry had already stated he was going to veto such a bill. Why would he want to do that? Because he wants to raise taxes on the top 2%, while Boehner’s bill would only have raised taxes on approximately the top .9%. But why does Barry want so desperately to raise taxes on the top 2%? Even the left agrees raising taxes on the top 2% will negatively impact small business. They also agree it would retard the already tepid economic growth we’re experiencing. Crap, Barry’s even asking for stimulus money to try and offset the negative impact of the tax hike. Finally, the tax hike will do virtually nothing to our long term debt and deficits. In other words, it’s being pushed only to advance the left’s “pro-middle-class” agenda. It has nothing to do with improving anything, however, which is why I’m glad the “Tea Party” members of the House shot Boehner’s proposal down.
Poorly thought-out, agenda-driven legislation is a bad idea. Want proof? Let’s look at budgetary black-hole California, where major cities are going bankrupt, and the Dems running the state have absolutely no idea what they’re doing because their ideology doesn’t match up with reality. As you may or may not know, Californians voted to raise the state sales tax and to raise state income taxes on “wealthy” people. The presumed purpose of the proposition was to reduce California’s massive debt. Contrary to popular belief, however, raising taxes doesn’t always result in raising revenues, especially when the people you’re raising taxes on are already paying more than they should be, and have the resources to flee to greener pastures.
According to the report, personal income tax revenues were ‘$827 million below the month’s forecast of $4.387 billion.’ Sales and use tax receipts ‘were $9 million below the month’s forecast of $1.601 billion’ and the year-to-date sales tax revenue was $8 million below forecast.
Not surprisingly, corporate tax revenues were also down, $175 million below the month’s estimate and year-to-date corporate tax revenues were $441 below estimate.
It’s examples like this that convince me we won’t actually begin solving our fiscal problems until we hit rock bottom. After all, it wasn’t the California state govt. that voted to raise taxes; it was the friggin’ people. In other words, there is a large group of people out there who believe we should be raising taxes, despite the ample evidence that doing so will actually make things worse. Maybe it will take another round of massive lay-offs and a recession to wake people up. Maybe even that won’t be enough. The older I get the more convinced I am that there are huge swaths of unemployed people that, despite their protestations to the contrary, are perfectly happy living in card board boxes as long as they have cable, cigarettes, and Wild Turkey. I don’t get it, but it’s clear that I’m in the minority. At least there’s still a few House Republicans who refuse to vote for legislation that they know won’t work.